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The new export reporting requirements have captured the attention of both experienced and non-experienced exporters. Between new exemptions, deleted exemptions, new definitions, modified language… it can all seem a bit daunting at first.
To help you out, the Census Bureau and Customs and Border Protection (CBP) have issued FTR Letter # 8 [PDF] that addresses concerns for complying with the Final Rule effective April 5, 2014. The new FTR Letter #8 [PDF], implements a 180 day informed compliance period, which means that between April 5, 2014 through October 2, 2014, no penalties will be issued to filers who fail to comply with the new revisions to the FTR.
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